Query on Jeevan Saral surrender after 3 years

POSTED BY Laxman Meher ON June 29, 2013 12:46 pm COMMENTS (2)


I am planning to surrender my Jeevan saral policy after paying two years of premium(24000/yr).
but my agent telling me to pay one more year premium .
also He said  that “If I surrender after 3 year
I will get 80% return (around 66000) of all amount paid by me( 72000)” .
When I checked this on internet  ,I found that return money after surrendering  3 yr old policy is 30%
I’ve contacted him, but he is still sticking to his point (80% return).
Could you please help me on this ? by confirming ,what is right ?
Waiting for yours feedback. 

2 replies on this article “Query on Jeevan Saral surrender after 3 years”

  1. Vaibhav Goyal says:

    As Ashal said, better get in touch with LIC itself.

    You can drop them an email, give your policy no. & plan details, and ask them how much you will get if you surrender at this point of time. The email addresses (and even contact nos.) of all branches are available on their website.

    In case they dont ans in few days, escalate your complaint to the next higher authority (refer LIC website). You will get to know the exact amount to the last paisa 🙂

    I was in your situation only, and have done this myself to know the amount. Btw based on the little I know, your agent may actually be right, coz most LIC policies dont give you much if surrendered b4 the 3rd premium.

    Vaibhav G

  2. Dear Laxman, when LIC site itself is telling 30% & that too of 2nd & 3rd prem. only, how can you get more? The wise option, please do not listen to you agent & contact the LIC branch.



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